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Let’s ease the pressure on portfolio buy to let from Leeds

29 September 2017


In 2016 and 2017 there’ve been a lot of changes to the buy to let (BTL) market. Leeds Building Society is easing the pressure for you and your customers, with a simplified application process and updated lending criteria.

What Leeds Building Society is doing to support you:

  • Increased their maximum portfolio size from 8 properties to 10 mortgaged rental properties and unlimited unencumbered
  • Landlords can now have 4 rental properties mortgaged with the Society, whether they're BTL, Holiday Let or a combination of both
  • Expanded their dedicated BTL underwriting team to include specialist portfolio landlord underwriters
  • Given their BDM team specific training to support you at the first point of contact
  • Introduced a simple portfolio landlord application process, making it easier for you to submit business
  • Created a dedicated webpage to give you all the information you need

Leeds Building Society BTL criteria:

  • Up to 70% LTV
  • 140% ICR
  • Stress rate of 5% for pound-for-pound remortgages
  • Stress rate of 5.5% for purchase and capital raising remortgages
  • No minimum income (subject to assessment and affordability)
  • No maximum term for assured shorthold tenancy agreement
  • 140% ICR and a stress rate of 5.5% when assessing background rental properties
  • HMOs are permitted with up to 5 bedrooms, and up to 2 people per room

To find out what else Leeds Building Society is doing to ease the pressure for you and your portfolio landlord customers, visit their dedicated site.

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